Fixed Deposit Rates: RBI has increased the repo rate several times in the last year or so. In such a situation, banks have also increased their interest rates. At this time, there is competition among banks to give the highest interest on FD. Every day some or the other bank is increasing its FD rates.
New Delhi. The current financial year has proved to be good for those investing in fixed deposits due to the increase in interest rates. After increasing the repo rate for six consecutive times by the RBI, all the banks have increased the interest rates on FDs. Currently, small finance banks, foreign banks and small private banks are offering the highest interest rate on FDs for a period of three years. At the same time, public sector banks have lagged behind in this matter.
According to BankBazaar, the average interest rate offered by top 10 banks on FDs for a period of three years is 7.6 per cent. Today, here we are telling you about the interest rate of top 10 banks on FD for a period of three years.
It is at the forefront of foreign banks
Deutsche Bank, IDFC First Bank, IndusInd Bank and Equitas Small Finance Bank are at the forefront of foreign banks paying the highest interest on FDs. Deutsche Bank pays interest at the rate of 7.75 per cent on FD for a period of three years. Similarly, IDFC First Bank, IndusInd Bank and Equitas Small Finance Bank are also paying 7.75 per cent interest on FDs with a tenure of three years.
Where is the highest interest in private banks
IDFC First Bank and IndusInd Bank are offering the highest interest rates on FDs among the private sector banks of the country. An investment of Rs 1 lakh in the FD of these banks increases to Rs 1.26 lakh in three years. DCB Bank gives 7.60 per cent interest on FDs with a tenure of three years. Rs 1 lakh invested in this bank’s FD scheme will grow to Rs 1.25 lakh in three years.
Union Bank gives more interest in public sector
Union Bank of India offers the highest interest rate on FD among major public sector banks in the country. The interest rate on FD of this bank is 7.30 percent. In which investing Rs 1 lakh will increase to Rs 1.24 lakh in three years. Similarly, Bandhan Bank, City Union Bank and Suryoday Small Finance Bank are ahead among the small finance banks that offer the highest interest on FDs. These banks pay 7.25 per cent interest on FDs with a tenure of three years.
